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Show BANKERS SUGGEST TAX RESERVE Government reports indicate that American farmers now hold property and assets having a total value of $111,209,000,000, which is more than twice the value reported re-ported in January 1940, stated Frederick P. Champ, area coordin-ateor, coordin-ateor, U. ' S. Savings Bonds division, divis-ion, and president Cache Valley Banking company. These same reports, he said, indicate a corresponding corres-ponding increase in the assets of Utah farmers, but whether we agree with the accuracy of these reports, we are all prepared to recognize the substantial increase in values and to agree that this increased value is worth protecting. protect-ing. In 1946 Utah farm income, comprising com-prising cash receipts from crops, livestock, and livestock products, was reported as exceeding $129,-000,000, $129,-000,000, and this year it is expected ex-pected that the figure will reach $175,000,000, which would be an increase of over 35, the highest percentage of increase recorded by any state in the union, said Mr. Champ. "Allowing for increased operating operat-ing costs, taxes, and any overstatement over-statement in the figures, the farmers farm-ers of Utah should be in a favorable favor-able position to save a considerable consider-able sum and to set up reserves out of current excess income for rainy days ahead," he said. "We all remember that many farmers and other property holders lost their properties during past depression de-pression years in some cases because be-cause they could not pay taxes out of low income. |